AST SpaceMobile (NASDAQ:ASTS) Trading Up 4.4% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price traded up 4.4% during trading on Thursday . The company traded as high as $22.08 and last traded at $22.03. 1,794,615 shares were traded during trading, a decline of 83% from the average session volume of 10,306,844 shares. The stock had previously closed at $21.10.

Wall Street Analysts Forecast Growth

ASTS has been the topic of several recent research reports. UBS Group lifted their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank decreased their price objective on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a report on Friday, November 15th.

AST SpaceMobile Trading Up 10.8 %

The firm has a market cap of $6.94 billion, a P/E ratio of -11.31 and a beta of 1.60. The company’s fifty day moving average price is $23.87 and its two-hundred day moving average price is $22.64. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insiders Place Their Bets

In other news, CTO Huiwen Yao sold 45,000 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total value of $1,091,700.00. Following the completion of the sale, the chief technology officer now directly owns 55,000 shares in the company, valued at approximately $1,334,300. This trade represents a 45.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 41.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fairfield Financial Advisors LTD bought a new stake in shares of AST SpaceMobile during the third quarter valued at approximately $26,000. Hollencrest Capital Management acquired a new position in shares of AST SpaceMobile during the third quarter valued at $26,000. Rakuten Securities Inc. bought a new stake in AST SpaceMobile during the 3rd quarter worth about $68,000. Sunbelt Securities Inc. raised its stake in shares of AST SpaceMobile by 3,380.0% during the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock worth $91,000 after buying an additional 3,380 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of AST SpaceMobile during the 3rd quarter valued at $104,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Company Profile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.